If the lockers are available, one can book immediately. Else, one will be issued a wait-list number and can avail the facility if the bank adds more lockers or existing ones get free
Axis Bank, the country's third largest private sector lender, will now allow its customers to book lockers via mobile applications. The lender believes that the process of booking lockers will become more transparent by moving it to the digital medium.
"Lockers are one of the most popular products and by making the booking of this product on the mobile platform, we have made it and simple for customers. The entire process also becomes more transparent. We have heard of cases where banks have asked customers to open fixed deposits, etc., to avail the facility but by making the booking online, such instances can be done away with," said Rajiv Anand, group executive and head (retail banking), Axis Bank.
If the lockers are available, one can book immediately. Else, one will be issued a wait-list number and can avail the facility if the bank adds more lockers or existing ones get free. The charge will vary from Rs 1,500-12,000 depending on location and size of the locker. Currently, the overall pan-India locker occupancy is about 72 per cent.
Axis Bank has been growing its mobile banking platform and is likely to launch more functions such as booking fixed deposits and investment products on mobile applications. At present, about 40 per cent of its customer base transacts via the digital medium. In FY15, Rs 12,636 crore of transaction value was recorded on mobile banking as compared with Rs 3,000 crore a year ago. Currently, 12-13 per cent of the total bank customer base is on this. Till last month, the mobile banking application of Axis Bank had 58 functions, which the bank was looking to grow to 100 over the course of three months.